York hotel boosts property group’s prospects

MALMAISON and Hotel du Vin owner Marylebone Warwick Balfour today said it was upbeat about its performance and that trading in 2008 would be strong.

The group, which owns the Malmaison in Leeds and Hotel du Vin in Harrogate, said its financial targets had been hit over the last 12 months.

Marylebone Warwick opened a number of new hotels during 2007, including a new Hotel du Vin in York, taking its total to 22.

Malmaison hotels were launched in Liverpool, Reading, Cheltenham and Cambridge.

The group said a further four hotels, in Poole, Newcastle, Edinburgh and Aberdeen, were set to be constructed or renovated this year with negotiations ongoing to launch several others.

It said occupancy for the year was maintained at 79% and that average room rates were up 8% to £115.

Marylebone Warwick was also upbeat about its AIM-listed serviced office subsidiary Business Exchange as well as Liberty, its Regent Street emporium in London.